Authorisation of Share buy Back Policy

RNS Number : 6734L

British Smaller Companies VCT2 Plc

03 August 2011

 



British Smaller Companies VCT2 plc

Notice of General Meeting

British Smaller Companies VCT2 plc ("the Company") announces that a circular will be posted to shareholders today convening a general meeting of the Company, which is to be held at Berkeley Square House, Berkeley Square, Mayfair, London, W1J 6BD at 2.00pm on 30 August 2011 ("Circular").

The meeting will consider a resolution to authorise the Company to make market purchases of its own shares ("Resolution").  The full text of the Resolution is set out in the notice of the general meeting contained in the Circular.

The authority to make market purchases of the Company's ordinary shares was recently sought at the 2011 Annual General Meeting and although a majority of shareholders voting, including those voting by proxy, had indicated their support for the proposal, a significant minority were opposed.  With this in mind the Board withdrew the resolution prior to the Annual General Meeting to allow further time to consult with shareholders. 

The Board recommends that shareholders of the Company vote in favour of the Resolution as they intend to do so in respect of their own beneficial shareholdings. 

In accordance with the Company's obligations under Listing Rule 9.6.1,a copy of the Circular is being submitted to the National Storage Mechanism and will shortly be available for viewing at www.hemscott.com/nsm.do.   Copies of the Circular can also be obtained from the website of the Company's fund manager at www.yfmep.com. 

For further information, please contact:

David Bell                        YFM Private Equity Limited                      Tel: [phone]

Jeff Keating                     Singer Capital Markets                             Tel: [phone]

 

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